Huntington National Bank 2014 Annual Report Download - page 90

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The increase in average total earning assets reflected:
x $3.0 billion, or 31%, increase in average securities, reflecting an increase of $1.5 billion of LCR Level 1 qualified securities
and $1.4 billion of direct purchase municipal instruments. At the end of the year-ago quarter $0.6 billion of direct-purchase
municipal instruments were reclassified from C&I loans to securities.
x $2.0 billion, or 31%, increase in average automobile loans, as originations remained strong.
x $1.2 billion, or 7%, increase in average C&I loans and leases, primarily reflecting growth in trade finance in support of our
middle market and corporate customers.
x $0.4 billion, or 8%, increase in average Residential mortgage loans as a result of the Camco Financial acquisition and a
decrease in the rate of payoffs due to lower levels of refinancing.
Table 43 - Average Interest-Bearing Liabilities - 2014 Fourth Quarter vs. 2013 Fourth Quarter
Fourth Quarter Change
(dollar amounts in millions) 2014 2013 Amount Percent
Average Deposits
Demand deposits: noninterest-bearing $ 15,179 $ 13,337 $ 1,842 14 %
Demand deposits: interest-bearing 5,948 5,755 193 3
Total demand deposits 21,127 19,092 2,035 11
Money market deposits 18,401 16,827 1,574 9
Savings and other domestic deposits 5,052 4,912 140 3
Core certificates of deposit 3,058 3,916 (858) (22)
Total core deposits 47,638 44,747 2,891 6
Other domestic deposits of $250,000 or more 201 275 (74) (27)
Brokered deposits and negotiable CDs 2,434 1,398 1,036 74
Deposits in foreign offices 479 354 125 35
Total deposits 50,752 46,774 3,978 9
Short-term borrowings 2,683 1,471 1,212 82
Long-term debt 3,956 2,253 1,703 76
Total interest-bearing liabilities $ 42,212 $ 37,161 $ 5,051 14 %
Average total core deposits for the 2014 fourth quarter increased $2.9 billion, or 6%, from the year-ago quarter, of which $1.1
billion were acquired deposits. Noninterest-bearing deposits increased $1.8 billion, or 14%. Average interest-bearing liabilities
increased $5.1 billion, or 14%, from the year-ago quarter, reflecting:
x $2.9 billion, or 78%, increase in short- and long-term borrowings, primarily reflecting a cost-effective method of funding
incremental LCR related securities growth.
x $1.6 billion, or 9%, increase in money market deposits, reflecting the strategic focus on customer growth and increased share-
of-wallet among both consumer and commercial customers.
x $1.0 billion, or 74%, increase in brokered deposits and negotiated CDs, which were used to efficiently finance balance sheet
growth while continuing to manage the overall cost of funds.
Partially offset by:
x $0.9 billion, or 22%, decrease in average core certificates of deposit due to the strategic focus on changing the funding
sources to no-cost demand deposits and lower-cost money market deposits.